If last week’s announcement of the Glassdoor acquisition had you all shook up, then you were probably in good company. The big news that Recruit Holdings, the parent company of Indeed, had acquired Glassdoor was quietly announced, but made a big statement to the recruiting tech industry. It signaled the continued consolidation of major tech players in online recruiting and left many talent acquisition professionals wondering what this would mean for the future of finding and connecting with talent online.
Over the last two years, we’ve seen the HR tech landscape and job board industry transform with the introduction of Google for Jobs last summer and the previous acquisition of Monster in 2016 by Randstad. With constant jockeying for power between major players, recruiting organizations could be at the losing end to technology companies if they are not proactively investing in recruitment marketing strategies that will improve the candidate experience and enhance their employer brand. So while nothing is set to change with Glassdoor and Indeed for the short-term, it’s imperative to prepare for the long-term so you’re not caught off guard. Here are the two key lessons that you can learn from the Glassdoor acquisition:
Lesson #1: Don’t Put All Your Eggs in One Recruitment Basket
Organizations today often rely too heavily on external sources and job boards to connect with candidates. A recent HR Dive article quoted HR technologist and CEO Moritz Kothe as saying “What I see in the global marketplace is that companies rely too much on job boards and their access to candidates via these tools.” With the Glassdoor acquisition, many talent acquisition professionals are legitimately concerned that dominant industry players can—and will—increase advertising costs considerably once the dust clears. And their continued dependence on a single source for recruitment advertising will catch up with them.
However, one way to sidestep this volatility is to avoid being too dependent on just one recruitment advertising vendor. Instead, invest in your own proprietary talent database so you can control—and own—your data. Leverage an integrated recruitment marketing platform that will help you build your own database from internal and external sources where you find top talent, and help you identify where your best talent comes from. Then you can search all of your talent sources for candidates and add them to current jobs or pipelines for future hiring. Once you do this, you can build relationships with candidates in your database and deliver engaging content that will nurture them throughout the recruitment process. Learning this lesson not only reduces your reliance on paid sources to decrease external spend, it also transforms your organization into a 24/7 recruiting and sourcing machine.
Lesson #2: Take Control of Your Candidate Experience to Enhance Your Employer Brand
The candidate journey is incredibly important to how candidates perceive your employer brand. One risk that may surface from the Glassdoor acquisition is if candidates start to doubt the transparency of reviews or view the popular review site as cumbersome or challenging. According to Brian Kropp, group vice president of Gartner HR practice in a recent HR Exec article, “If the services that are offered through Glassdoor become more focused on delivering on the needs of HR executives and recruiters, then they run the risk of becoming a less valuable platform that becomes candidate and employee unfriendly.” Candidates today often use Glassdoor as an objective source of information on what it’s really like to work for your organization. It’s an unfiltered look at your employer brand and your organizational culture. If their experience is frustrating, then it’s possible your employer brand could also take a hit.
Further compounding this issue is that converting candidates into applicants on Indeed has been a difficult challenge. Typically, only four percent of candidates who click to apply complete the application process based on the multiple links required to get to your ATS application. But there are simple changes you can make to improve your application volume. By directly feeding candidate profile information into your applicant tracking system—all without leaving Indeed—you can dramatically improve the candidate experience and drive conversion results for your organization.
Remember, a great candidate experience is central to your employer brand. When candidates have a positive interaction during the application process, it reinforces the brand you’ve worked so hard to build. Don’t miss the chance to make a positive statement with your application process to ensure that great candidates turn into great applicants for your company.
Take Time to Get Your Recruiting Ducks in a Row
While we will all have to wait and see the impact of Indeed on Glassdoor, organizations can—and should—take time now to prepare for continued changes in the recruiting technology landscape. Don’t let this moment pass you by without learning from it. Identify and determine how you should prioritize and invest in the future of your recruitment marketing efforts.